Suzlon Energy bags 60 MW via NTPC Reverse Solar E-auction

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Suzlon Energy has bagged the latest NTPC reverse e-auction for solar projects in Rajasthan. It has won 60MW of the 100MW on offer via an agreement to sell power at Rs 5.07 per kwH. Apart from Suzlon, the other winners included Janardhan Wind Energy, who acquired 20MW at Rs 5.06 per kwH and Maharashtra Seamless, that acquired 20MW at Rs 5.07 per kwH.

This is the company’s second successful bid in this segment. Suzlon had won a 210MW solar power project in Telangana in the latter part of 2015.

The latest auction was held under the domestic content requirement (DCR) quota. Under this quota, it was compulsory for developers to purchase solar modules from domestic manufacturers. Indigenously manufactured modules are costlier than Chinese or Malaysian imports which are being used by the majority of solar developers in India. The quota mandates developers to identify and purchase land on their own for these projects. These conditions have led to the tariffs being driven upwards.

Under the DCR quota, the Rajasthan auction price was a big win. Earlier winning bids are well over Rs 5 per unit. For instance, within a tender for 111MW under the DCR quota in Karnataka, in early March, the lowest winning price was Rs 5.94. This was proposed by Microsun Solartech.

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